A city wants to use some property with a few old houses and lots of wooded land to convert to a nature preserve and park. You have been hired to conduct a cost benefit analysis to check if this preserve a good idea for the City. Write a plan of your project. Include all the costs and benefits you think might be relevant. Include details on how you plan to measure the costs and benefits.

One of the benefits of the park is to provide habitat to the Florida Scrub Jay, which is an endangered species. This project would act as a Safe Harbor for the Scrub Jay and free the citys residents from any restrictions on their land if Scrub Jays nest on their property.

There may have been a gas station on the property in the past, which means toxic fuel could be leaking into the aquifer from old underground tanks.

Be sure your answer includes discussion of:

1) The scope of your study who has standing, what is the time period, etc. 2) The underlying causes of the problems: property rights, or externalities, etc 3) Costissues:cleanupcosts,monitoring,regulatory,etc. 4) Benefitsoftheproject,andhowmeasured(bespecificandthorough) 5) Roleofuncertainty,discountrateissues